Spot iron ore fines market in China remained inactive on Monday, after buyers returned from 3 days long holiday.”There is not much of buying activity see in the market, buyers want to see the trend before making purchases.” said a local trader based in China.
There are few high grade cargoes being offered from Indian exporters, last offer for 63.5/63 was heard at around $141/t CFR, though deal was not heard concluded.
Indian iron ore traders got active last week after rupee touched 57.30 and spot prices were high. It will be too early to say if prices will continue to rally further or will stabilize at current levels. 58% Fe iron ore fines heard to be traded at Rs 3,600/t F.O.R Vizag Port.
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